The XRP community, a cryptocurrency issued by Ripple Labs, has a reason to stand firm in the face of market fluctuations.
It’s not recent. The mantras that hold that conviction is in circulation among its members for years: XRP is reaching $1,000!
The implementation of exclamation mark signs is attempting to reinforce the character of this mantra. Around it is a constant debate at the Ripple Cryptocurrency Forum.
Does XRP reach $1,000? Apart from the beliefs XRP investors have, Here it is essential to place important concepts on the table: market capitalization.
The market capitalization of a cryptocurrency is calculated by multiplying the price of each unit by the amount of existing currency. For example, if the currency is worth $2 and there are 1 million in circulation, its capital would be $2 million.
Understanding the true size of an asset is a metric, as only the price does not reflect its true value. Many exaggerated predictions ignore this simple but essential equation.
For XRP to reach a price of $1,000 with a 59,777,2479 token distribution supply, the market capitalization must be around $59,777 billion.The sign (in English).
If this is done today, XRP is more valuable than gold, and we are thinking about what this projection represents.
Community discussion
On this occasion, Reddit users identifying as “mister_sirr” expressed their opinion on the future of XRP, saying: YouTubers It gives a crazy price forecast for XRP over the years. At first I thought, “No, it’s impossible,” but it would be great if that happened. Now, today, I don’t think they’re that wrong.
For him, you can see XRP quoting at least two or three digits, as it can generate an offer shock. Promoted by the launch of XRP Stock Quoted (ETF) And bigger institutional adoption. Anyway, he said, “$1,000 still seems unrealistic.”
User Lost-Childhood7603 put a cold cloth on this issue, but the catalyst for cryptocurrency prices appears on the horizon. «Many fantasies and influential people seek their own interests. So, you can get these benefits, but not overnight. Let’s see if you can get 3-6 dollars first. We are not in a hurry yet. You must start the move first. Give me a year to get to both numbers,” he said.
On his part, the Extenda_sundae_301 user said, “Only the ETF will raise the price of $5-9.” Additionally, he showed that XRP built-in could be key to the Swift system (in Spanish, the World Interbank and Financial Communications Society).
«This will increase the price from $15-25. Once the current regulations are obtained, an adoption chain reaction will begin, which no one can imagine. XRP is preparing for great success. If Ripple got the bank credentials that required it, I was able to see something incredible like three digits. We’ll project a price of $500 over the next five to seven years,” he said.
It is important to explain some issues here. The first is to highlight the fact that, although there is a price catalyst, no one can make XRP priced in four figures in the short term.
As a rule, it needs to be clear Establishing ETFs into the market is important to promote access and increase XRP visibility Among institutional investors.
As reported by Cryptonoticias, on September 18th, Rex-Soprey ETFs, exposed to XRP prices, debuted. Financial Markets Analyst David Zanoni believes that by introducing the ETF, investors will be able to obtain XRP exposure without using wallets or exchanges. “Investors can obtain ETFs from standard securities accounts through individual retirement accounts (IRAs), as if they were action,” he adds.
In any case, it is necessary to make it clear that these financial instruments are not on the spot (in cash).
The market has carefully followed the response by the Stock Exchange and Value Committee (SEC) Committee on ETF spots requested by fund managers such as Grayscale, Bitwise, Canary Capital Group, 21Share, and WisdomTree.
Inclusion in orders for Swift and bank licenses
In July, Ripple requested a banking license in the United States. This places the Stablecoin Ripple USD (RLUSD) under the supervision of Mint’s Director (OCC). Additionally, his subsidiary has requested that the Federal Reserve Master Accounts protect reservations and operate stubcoins outside of banking schedules, with the aim of expanding cryptocurrency services from the banking structure.
Bank license allows ripple Speed up payments and transfers using RLUSD and smart contractsreducing costs and risk.
B2Broker Business Director John Murillo told Cryptonoticia “as the role of XRP could be reduced if most payments were made on RLUSD.” Therefore, he revealed, “Ripple must continue to connect different currencies using XRP, but RLUSD will manage the dollar side, and the network may grow, and it could also do XRP volumes.”
This is important as RLUSD is broadcast on Ethereum and XRP ledgers, and its native currency is XRP. In other words, if RLUSD adoption is accelerated, XRP ledger activity will increase, and therefore More Use of XRP for Commission Payments. Such facts can raise the price of an asset.
Finally, we need to mention the eternal hope that XRP will replace Swift, a global system that allows financial banks and institutions to send information about transactions, which has been slowed down and criticized for its high cost. It currently manages $150 billion a year.
However, XRP has not yet been integrated as a “bank cryptocurrency.” So instead of replacing Swift, we’re talking about the possibility that XRP will integrate into a global payment system.
Brad Garlinghouse, CEO of Ripple, estimates that XRP will be able to earn 14% of that volume by 2030. This amounts to 21 billion a year or 580 million people a day.
In this regard, Murillo states: “I don’t know if Ripple will be able to swap it anytime soon. Integration is more likely, especially since Swift is already testing tokenized payments. Ripple could be the natural connector for that system.”
These catalysts can boost XRP at a historically high level. However, the prediction that each currency will reach $1,000 is still very far away. Of course, that’s not impossible. But contrary to some opinions YouTubers Investors, it is very difficult to occur in the short or medium term.
